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The board of Vardhman Textiles has approved a scheme of arrangement for the merger of VMT Spinning Company Ltd, VTL Investments Ltd, Vardhman Nisshinbo Garments Company Ltd and Vardhman Acrylics Ltd with itself. The scheme is subject to necessary approvals from the shareholders and creditors of the transferor companies and the company and other statutory and regulatory approvals, the company said. Shares of Vardhman Textiles slipped 0.68 per cent at ₹918.35 on the BSE.
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